|By Business Wire||
|December 2, 2013 10:10 AM EST||
a leading payment services provider, announces today that 18 leading
CrowdInvesting platforms have integrated the BancBox Invest API. On top
of that, more than $4 Million has been processed on behalf of its
partner platforms and that over a dozen offerings have been completed
via the Invest API.
BancBox Invest (previously BancBox Crowd) is the only cloud-based, automated, independent escrow solution that ensures that CrowdInvesting portals remain in compliance with FINCEN, FINRA and SEC requirements, specifically Rule 15c2-4. BancBox’s solution was the first independent escrow service to hit the market and has leveraged its first mover advantage to sign up an all-star roster of partner platforms that includes debt, equity, angel-investing and real-estate platforms.
BancBox partners include:
- 99 Funding
- Angel RoundUp
- Patch of Land
BancBox has seen incredible adoption among investors on its first partner platforms with the service processing over $4 million in investments. Additionally, the company announced several additional milestones:
- Over a dozen deals closed implementing the service
- Over 300 accredited investors in the system on 20 different deals
- Average investor funding of approximately $15,000
- Average escrow size of $250,000
“BancBox Invest is a linchpin technology that is helping an entire industry to find its legs. We are excited to have signed up 18 of the leading CrowdInvestment platforms that are helping to usher in this revolution and are displaying incredible leadership and innovation,” said Sanj Goyle, CEO of BancBox. “These platforms represent half of the top-tier CrowdInvestment platforms that we identified when launched the API a few months ago.”
The company is tapping into more than a decade of experience building robust payment solutions, as it rolls out its Invest platform across the industry. Partner platforms look to BancBox for its expertise navigating complex regulatory frameworks and providing rock-solid payment security.
BancBox's singular focus is to take the anxiety and friction out of money movement through its secure and simple set of API's. The company is helmed by a seasoned team of executives and advisors with experience at industry leaders such as Yahoo!, Visa, and PayPal. On any given day, BancBox manages $100 million in consumer deposits in nearly 200,000 individual accounts. Over the past two years, BancBox's transaction volume has increased 100% to nearly $2 billion annually.
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